Leaving on a Jet plane

After the UNSW Saga, I was given an option to leave for my studies in Sydney or continue to pursue my undergraduate studies in SIM. I was presented with a dangling carrot of $22000 "Scholarship" or opt for a education that costs 2 times cheaper. So which exactly costs more? A commerce undergraduate degree in UNSW cost approximately $38800 annually.

• $24000 tuition fees
• $10080 for a year's rent
• $4800 for food and other MISC expenses

This might seem much higher than a course in Sim. $38k vs $12k. However we have forgotten other costs when you study in a local education. I define this as a FSF. Family Scheme Fund. Under the FSF, it comprises of

• $6000 annually pocket money (Assuming you receive $500 a month)
• $600 annual phone bill (Assuming $50 a month)
• $1200 annual personal utilities (For all the additonal power you use on your computer and shower)
• $1200 annual transport (Includes public transport and fuel for your car)

TOTAL = $9000

This would add up to $12000 + $9000= $21000 if I study in a local private institution.

The FSF is often neglected is our assumptions because we are used to consuming it without knowing how much it exactly costs. The truth is, this can be deducted from an overseas education because this is the savings that your parents benefit when you are studying overseas.

Thus,

FSF = Savings in Singapore when you study overseas

Cost of education an UNSW =

$38800 - FSF - Variable Scholarship received =

$38800 - $9000 - $22000 = $7800

Too good to be true?